Balanced connects to Sui
Use Balanced on Sui to borrow bnUSD, trade SUI, and transfer crypto between connected blockchains.
Balanced has arrived on the Sui blockchain. You can now swap SUI for crypto on other chains, transfer it to the ICON blockchain to supply liquidity, and use it as collateral to borrow the bnUSD stablecoin.
Learn more about Balanced’s cross-chain DeFi offering and why the Sui connection matters.
About the Sui connection
Balanced is a cross-chain DeFi app designed for ease of use. Home to the bnUSD stablecoin and a decentralised exchange, it uses ICON’s cross-chain framework to connect to a diverse range of blockchains.
The Sui connection unlocks a new collateral type for bnUSD, and makes Balanced accessible to a new audience. You can use Balanced to buy SUI without going through a centralised exchange, which gives Sui traders more autonomy and flexibility in how they manage their assets.
Thanks to the economic enshrinement between Balanced and ICON, ~$90,000 of SUI is available to trade at launch.
And the Sui smart contracts have undergone an external audit for your protection – view the audit report (PDF) for the full details.
How to use Balanced on Sui
You can use Balanced on Sui to borrow bnUSD, swap crypto, and transfer cross-chain. Sui transactions finalise within ~60 seconds, and the transfer fee costs 0.05 SUI (~$0.09).
To get started, visit app.balanced.network.
Swap and transfer SUI cross-chain
You can use Balanced to swap between assets on different blockchains, and transfer crypto to a supported chain.
Balanced provides a native cross-chain experience, so your crypto remains wrapper-free. You can use SUI on Sui and ICON, and bnUSD is available everywhere.
Use SUI to borrow bnUSD
You can use your SUI as collateral to borrow bnUSD. You can borrow up to 67% of the value for a 0.2% fee, and your debt will increase by 2% per year.
You can deposit SUI on Sui or ICON, and borrow bnUSD on any supported chain. Loans are isolated, which means each collateral type (on every chain) has its own risk profile.
Supply SUI liquidity on ICON
If you connect an ICON wallet and add SUI and bnUSD to it, you can also supply liquidity to improve the trading experience. Liquidity pools earn 50% of the fee from each trade, and cross-chain pools are coming soon.
How does the cross-chain connection work?
Balanced’s blockchain connections are powered by ICON’s General Message Passing (GMP), a cross-chain messaging service that makes it seamless to interact between blockchains. GMP can relay messages using any interoperability protocol, and allows developers to use more than one protocol to reduce dependency on a single bridge.
GMP connects to a custom relay on Sui, which uses multiple relays – each managed by a separate entity – to ensure a secure connection.
Balanced has already used GMP to connect to Arbitrum, Archway, Avalanche, Base, BNB Chain, Havah, Injective, and now Sui.
These connections will soon be followed by Optimism, Polygon, Solana, Stacks, Stellar, and more.
Borrow, swap, and transfer cross-chain on Balanced
Balanced is a cross-chain DeFi hub, and it’s now available on Sui.
To borrow, swap, and transfer cross-chain, visit app.balanced.network and sign in on your favourite blockchains.
To learn more about Balanced, check out the website, read the docs, and join the Balanced community on Discord.